Two directors of a Cornish construction firm that will go into liquidation this week have said they “made an error of judgement” and have received threats since the news was made public.

Cornwall Live recently reported that, following a period of speculation, Nova Construction (Cornwall) Ltd, based at Marlin House on Agar Way in Pool near Redruth, will enter liquidation in the coming days.

A spokesman at licensed insolvency practitioner Purnells said: "The directors of the company signed notices to requisition a decision procedure to place the company into creditors voluntary liquidation on the 23 August 2018. That decision procedure will be held on the 13 September 2018, following which the company will officially be in liquidation."

On its website, Nova Construction, founded in 2001, says it has access to a team of about 50 people, although it is not clear whether this refers to direct employees or independent contractors. It is understood staff were told about the liquidation on Friday, August 24.

Now, directors Mark and Caroline Atkinson have said they were sorry and have penned a letter explaining the situation.

They also refuted claims that they’d seen a business go under before, saying they set up and dissolved single-purpose vehicles (individual companies), which is standard practice within the construction industry. The Companies House website shows that they were directors of Nova Homes Cornwall Ltd, a business that was dissolved on December 30, 2014.

The letter reads: “In response to the recent West Briton and Cornwall Live article regarding our business, Nova Construction, going into administration, we felt it was important to address some points.

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“Placing the company, which we put our heart and soul into for 17 years, into administration was the most difficult decision we have ever had to make. It was truly heart-wrenching and many tears have been shed since.

“We are genuinely sorry for what has happened.

Mark and Caroline Atkinson said Nova Construction has been their life since it was established 17 years ago

“Since the article was published we have received threats, which, as our business was founded around an ethos of family and friendship, we have found to be particularly distressing.

“Contrary to claims, none of our companies has ever gone under.

“There have been changes, mainly due to other directors leaving the business due to ill health or retirement, however, none of our previous businesses have failed.

“This includes the businesses, or single purpose vehicles, we have established and closed to facilitate specific developments. As anyone with an understanding of the construction industry would know, this is a standard practice.

“Nova Construction has been our life for 17 years. The staff and sub-contractors we have worked with during that time have become part of our family.

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“We wanted to take a step back from the business and brought in people whom we thought had the skills and ability to take the business forward and provide us with a robust succession plan.

“Unfortunately, the people we trusted were unable to deliver. As soon as we found this out we immediately took back full management of the company in the hope we could return the business to profit and avoid this outcome but ultimately we were too late.

“Over the last six months we have done everything we possibly could to rebuild the business. We put everything we had in, as we believed the plan would work.

“Unfortunately the bank pulled the plug, which meant that we had no alternative than to close the business.

Nova Construction was based in Pool

“As you can imagine, it has been a distressing time for us.

“To the construction companies in the area that have provided employment opportunities for the majority of our former staff, we are extremely grateful.

“To our creditors, we have worked hard to provide Purnells, the insolvency practitioner, with as much information as possible. We are hopeful that they will be able to find a solution that provides a positive outcome for all involved.

“We have employed hundreds of people, created an incredible amount of work for local suppliers and sub-contractors, provided a massive boost for the local economy, and built houses that many local families now call home.

“Finally, we are proud of the work that we have done since we started the business.”